University City Apartment
For Sale
Contact for pricing
Pending
409 S 42nd St, Philadelphia, PA 19104
34 apartment units in Philadelphia's University City.
Property Size20,025 SF
Days on Market215
Property Features for 409 S 42nd St
General Information
Standard status
Pending
Size
20,025 SF
Class
C
Property subtype
Multifamily
Zoning
RTA-1
Site & Location
Neighborhood
West Philadelphia
Building Details
Year Built
1870
Buildings
3
Stories
4
Units
34
Listing Agency:
GREA
Listed By:
Ken Wellar · License #PA 10401252368
Source:
Crexi
Added: Mar 24
Changed: Oct 16
Last Checked: Oct 23 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GREA
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features an apartment building containing 34 units. The property is located in University City, Philadelphia. The building has a size of 20025 square feet.
Key Highlights
- 34 Apartment Units offer a great investment opportunity.
- Multifamily property in a desirable University City location.
- Prime Philadelphia location.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$314,984
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,299,680
$6.3M
Cap Rate 7%
$4,499,771
$4.5M
Cap Rate 9%
$3,499,822
$3.5M
Market Conditions
NOI Build-Up for 20,025 SF
Gross rent
$608.0K $30.36/SF
− Vacancy
−$35.3K −$1.76/SF
EGI
$572.7K $28.60/SF
− OpEx
−$257.7K −$12.87/SF
NOI
$315.0K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,299,680
Cap Rate 7%
$4,499,771
Cap Rate 9%
$3,499,822
Alternative Uses
Best Use
Apartment 5plus
$4.50M
$3.94M – $5.25M
NOI $314,984 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.88M
$4.27M – $5.70M
NOI $341,725 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
6,410
Businesses Nearby
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Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - 34 apartment units in Philadelphia's University City.
Where is this apartment building located?
The property is located at 409 S 42nd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 34 Apartment Units offer a great investment opportunity.; Multifamily property in a desirable University City location.; Prime Philadelphia location.
